Canada’s clean tech industry at perilous crossroads: report

A new report on the state of Canada’s clean tech industry warns that many companies are “awash in red ink”, posting negative shareholder returns and are vulnerable to foreign takeovers, despite the federal government’s Budget 2017 commitment of $1.8 billion in new support for the sector. However, that funding is slow to ramp up and the report from Analytica Advisors urges that “a supporting suite of policies to secure Canada’s clean innovation in the form of standards and regulation must follow suit very quickly”. The report notes that banks and financial institutions “are not engaged with the sector”, resulting in decreasing global market share and an inability of small firms to properly scale. If that market share was boosted from the current 1.3% to 2%, the report projects that Canada could have a $50 billion industry by 2022.